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Deccan Herald
2 hours ago
- Deccan Herald
Virtual labs with AI scientists show promise: Stanford study
Virtual scientists in a virtual lab at Stanford University are coming up with unorthodox ways to address clinical challenges, researchers reported on Tuesday in Nature. The virtual lab is modeled after a well-established Stanford School of Medicine research group, complete with a principal investigator and seasoned scientists, the report says. As in human-run research labs, the virtual lab has regular meetings during which agents generate ideas and engage in a conversational back-and-forth. They also have one-on-one meetings, allowing the virtual lab members to meet with the virtual principal investigator individually to discuss ideas. Unlike human meetings, the virtual gatherings take a few seconds or minutes. When humans tasked the virtual team with devising a better vaccine for the SARS-CoV-2 virus that causes COVID-19, they equipped the virtual scientists with tools and software to stimulate creative 'thinking' skills. The virtual scientists even created their own wish list. 'They would ask for access to certain tools, and we'd build it into the model to let them use it,' study leader James Zou said in a statement. Instead of opting for the usual vaccine design using an antibody, the AI team came up with using a nanobody, an antibody fragment that's smaller and simpler. 'From the beginning of their meetings, the AI scientists decided that nanobodies would be a more promising strategy,' Zou said. 'They said nanobodies are typically much smaller than antibodies, so that makes the machine learning scientist's job much easier," Zou said, "because when you computationally model proteins, working with smaller molecules means you can have more confidence in modeling and designing them.' When humans created the AI researchers' nanobody in a real-world lab, they found it was stable and could attach itself to one of the COVID virus variants more tightly than existing antibodies - a key factor in determining vaccine effectiveness. Aside from the initial prompt, the main guideline consistently given to the AI lab members was budget-related. Zou estimates that he or his lab members intervene about 1% of the time. 'I don't want to tell the AI scientists exactly how they should do their work. That really limits their creativity,' Zou said. 'I want them to come up with new solutions and ideas that are beyond what I would think about.'
Time of India
5 hours ago
- Time of India
Punjab needs an industrial cluster in every dist: Experts
Ludhiana: Policy experts and industry veterans raised serious concerns about Punjab's underutilisation of flagship schemes aimed at promoting entrepreneurship and MSME development recently. Sanjeev Chaddha, professor and head of the management development centre at MGSIPA, said there should be at least one industrial cluster per district to support small businesses and local manufacturing. "States like Haryana have 50 to 55 MSME clusters in operation. Southern states are also making full use of these schemes. But Punjab's figures remain negligible," he added. He introduced several central and state govt schemes that industrialists and new entrepreneurs must make use of. He also pointed out that Punjab has not implemented even a single project under the ASPIRE scheme, which is specifically designed to promote rural entrepreneurship through livelihood business incubators (LBIs) and technology business incubators (TBIs). "ASPIRE offers up to Rs 1 crore in grants for setting up rural incubators, 100% support for govt-promoted LBIs, and 50% support for private or PPP models. Many states have used this to boost rural jobs," Chaddha said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold 2021 Cars Now Almost Free - Prices May Surprise You Unsold Cars | Search Ads Learn More Undo "ASPIRE has been in 27 states, with 109 LBIs, 1.08 lakh beneficiaries. For example, UP has 13,656 beneficiaries and Maharashtra 9,599 beneficiaries trained. Punjab has no approved LBIs or trained beneficiaries yet," he added. He was speaking during a capacity building workshop as part of the RAMP (raising and accelerating MSME performance) initiative. It was attended by small entrepreneurs and MSME stakeholders. Chaddha also explained how the cluster development programme provides shared infrastructure like common facility centres, R&D labs, and training units — especially useful for small and micro industries. "In Haryana, SPVs (special purpose vehicles) of 50 to 55 small industries have come together to form independent, successful units. Punjab should adopt this model across all districts," he said. Sanjeev Gupta, former chief GM of SML ISUZU, shared practical challenges and mindset barriers faced by MSMEs. "Most small entrepreneurs try to manage everything themselves — from GST to production. This limits growth and innovation," he said. He stressed the importance of delegation, outsourcing, and innovation to reduce production costs. "Even Maruti cannot keep raising car prices despite increasing costs of power, material, and labour. Instead, they improve efficiency, targeting at least 1% cost reduction annually. MSMEs must adopt a similar approach." Gupta also emphasised the role of workplace culture and employee ownership models in enhancing productivity. "At Infosys, even drivers and gardeners became crorepatis through Employee Stock Ownership Plans (ESOPs). If employees feel like stakeholders, they stay committed and perform better," he said. He encouraged entrepreneurs to treat daily product improvement and cost innovation as a continuous process rather than an occasional goal. Chaddha ended the session with a motivational message for budding entrepreneurs. "Ambani and Adani began from humble backgrounds. The only difference is they fully used every opportunity and scheme available. Punjab's entrepreneurs can do the same." BOX PUNJAB LAGGING BEHIND States like Haryana have 50 to 55 MSME clusters in operation. Southern states are also making full use of these schemes. But Punjab's figures remain negligible Sanjeev Chaddha, professor and head of the management development centre at MGSIPA Most small entrepreneurs try to manage everything themselves — from GST to production. This limits growth and innovation. Sanjeev Gupta, former chief GM of SML ISUZU
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Business Standard
11 hours ago
- Business Standard
ITR-3 filing starts: Who needs to file, what's changed & what to watch for
The Income Tax department has opened an online filing of Income Tax Return Form ITR-3 for Assessment Year (AY) 2025–26, according to its recent announcement on X. This is welcome news for individuals and Hindu Undivided Families (HUFs) earning income from business, profession, capital gains, or multiple sources. Who needs to file ITR-3? According to Naveen Wadhwa, vice president, Taxmann, ITR-3 is applicable to: -Individuals with income from business or profession (non-presumptive) -Freelancers or consultants providing services such as IT, legal, or marketing -Traders involved in regular buying/selling of shares, including F&O -Persons with income from multiple house properties -Taxpayers holding unlisted equity shares -Individuals with capital gains or foreign assets Importantly, salaried individuals who also earn from stock trading or freelancing must use ITR-3, not the simpler ITR-1 or ITR-2. ITR-3 is mandatory for those earning from Futures and Options (F&O) as it is treated as non-speculative business income, explains Shefali Mundra, chartered accountant and tax expert at ClearTax. Calculate Income Tax: Income Tax Calculator Tool 'F&O income falls under 'Profits and Gains of Business or Profession' and not capital gains, making ITR-3 the correct form,' she says. It also allows for accurate loss reporting and carry-forward provisions, she adds. Additional disclosures for ITR-3 -Capital gains split based on whether the asset was sold before or after 23 July 2024, as this impacts tax rate -Detailed TDS section codes must be reported to match AIS/Form 26AS -Loan details for claiming Section 24(b) housing interest deduction -Expanded crypto/VDA reporting, including acquisition and sale dates -Foreign income/assets and opt-out details for new tax regime (Section 115BAC) Simplifying a complex form ITR-3 is among the most complex forms due to its exhaustive disclosures, said Akhil Chandna, partner, Grant Thornton Bharat. However, he noted that the Income Tax portal has improved the filing experience this year with: -Pre-filled data for TDS, interest, salary, etc. -Real-time error checks to prevent mismatches -Simplified UI with tooltips and help prompts These enhancements aim to reduce filing errors and ease the burden, especially for first-time users. Common mistakes to avoid -Incorrectly classifying F&O income as capital gains -Choosing presumptive schemes (Sections 44AD/44ADA) without eligibility -Filing ITR-1 or ITR-2 despite business income -Assuming pre-filled data is accurate without cross-verification Capital gains: Watch out for misreporting and form mismatch Mundra also flags common errors in reporting capital gains. 'Misclassifying LTCG as STCG or vice versa, especially under the revised rules from July 23, 2024, can result in wrong tax computation,' she notes. Errors such as ISIN mismatches and incorrect grandfathering (for assets bought before Feb 1, 2018) are frequent and can lead to tax notices. She advises cross-checking returns with AIS and TIS to ensure accuracy. Word of caution While the system is smoother, over-reliance on pre-filled info or filing at the last minute during peak load could lead to issues. Users should manually verify all figures and file early to avoid portal lags. With online filing now active, those eligible for ITR-3 should gear up to file their returns accurately and in time for AY 2025–26.
